Buying a Property in Austria

Buying a Property in AustriaIn most areas of Austria, any EU citizen of EU-based legal entity can directly buy a property (apartment, family home, guest house or hotel) without the need for setting up an Austrian corporation.

Standard one-time fees and taxes paid by the buyer:

Property Transfer Tax: 3.5 % (of the purchase price)
Land Registry Office Filing Charge: 1,1 %
Notary Fees: 2-3 % (+VAT)
Real Estate Broker’s Commission: 3 % (+VAT)
Other Costs (signature certification, etc.): approx. EUR 350

Payment Process

The purchase price is paid by the buyer by transferring the money into a notary’s escrow account (who acts as a custodian). The funds are kept in the escrow account and only released to the seller at the time specified in the purchase contract. The property transfer tax, the land registry filing fee and the notary fees are also paid directly to the notary.

Purchase Contract and Filing with the Land Registry

The purchase contract is drawn up by a local (Austrian) notary and Rellox will arrange for the translation and legal review of the contract in order to make sure that it meets the requirements of the given client (buyer). The new title of ownership is usually recorded at the land registry office within 2 – 4 weeks after the signing of the purchase contract

Related Services

After the signing of the purchase contract, Rellox will work with the local notary to make sure all taxes and fees are paid to the respective authorities, that the new owner is registered as a new local resident, that all utilities have been transferred into the new owner’s name, etc.

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